Etteplan: Challenging times ahead - Evli Research
Etteplan withdrew its guidance for the time being due to uncertainty caused by the coronavirus outbreak. The increased uncertainty in the global economy has adversely affected customer demand and will have a negative impact on financial development.
We have lowered our 2020 estimates, expecting revenue to remain at 2019 levels and EBITA to decline clearly. We lower our target price to EUR 6.9 (10.2) and retain our HOLD-rating.
Link to research: https://pankki.evli.com/hubfs/ERP/Raportit/Etteplan/Etteplan%20200401%20Company%20update.pdf
We have lowered our 2020 estimates, expecting revenue to remain at 2019 levels and EBITA to decline clearly. We lower our target price to EUR 6.9 (10.2) and retain our HOLD-rating.
Link to research: https://pankki.evli.com/hubfs/ERP/Raportit/Etteplan/Etteplan%20200401%20Company%20update.pdf
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